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Economy of Argentina vs Zambia compared: GDP & Debt

Updated on by Georank team

Argentina has a GDP of $638B compared to $25.3B for Zambia, ranking 24/197 and 116/197 by economy size, respectively.

Argentina has $540B in government debt (84.7% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Argentina vs Zambia GDP by year

Argentina
Zambia
1x
Year GDP, current $
Argentina Zambia
2024 $638,365,455,340 $25,303,185,342
2023 $649,461,687,959 $27,577,956,471
2022 $633,993,756,301 $29,163,782,140
2021 $486,564,085,480 $22,096,416,932
2020 $385,740,508,437 $18,137,764,931
2019 $447,754,683,615 $23,308,667,781
2018 $524,819,892,360 $26,311,507,274
2017 $643,628,393,281 $25,873,601,261
2016 $557,532,320,663 $20,958,412,538
2015 $594,749,285,413 $21,251,216,799
2014 $526,319,673,732 $27,141,023,558
2013 $552,025,140,252 $28,037,239,463
2012 $545,982,375,701 $25,503,060,420
2011 $530,158,122,010 $23,459,515,276
2010 $423,627,422,092 $20,265,559,484
2009 $332,976,484,578 $15,328,342,304
2008 $361,558,037,110 $17,910,858,638
2007 $287,530,508,431 $14,056,957,976
2006 $232,557,260,817 $12,756,858,899
2005 $198,737,095,012 $8,331,870,169
2004 $164,657,930,453 $6,221,110,219
2003 $127,586,973,492 $4,901,869,764
2002 $97,724,004,252 $4,193,850,445
2001 $268,696,750,000 $4,094,441,301
2000 $284,203,750,000 $3,600,632,111
1999 $283,523,000,000 $3,404,284,891
1998 $298,948,250,000 $3,537,741,942
1997 $292,859,000,000 $4,303,288,480
1996 $272,149,750,000 $3,597,220,962
1995 $258,031,750,000 $3,806,983,413
1994 $257,440,000,000 $3,656,806,166
1993 $236,741,715,015 $3,273,505,344
1992 $228,778,917,308 $3,182,810,841
1991 $189,719,984,268 $3,376,806,697
1990 $141,352,654,305 $3,288,381,797
1989 $76,629,728,760 $3,994,673,161
1988 $126,890,235,049 $3,728,878,149
1987 $108,810,885,301 $2,265,250,972
1986 $105,872,372,614 $1,664,413,508
1985 $88,150,891,728 $2,252,454,500
1984 $116,915,052,107 $2,719,518,933
1983 $103,979,106,778 $3,321,048,451
1982 $84,307,486,837 $3,871,117,093
1981 $78,676,842,367 $4,008,126,497
1980 $76,961,923,741 $3,884,530,854
1979 $69,252,328,952 $3,353,445,378
1978 $89,049,453,088 $2,811,032,473
1977 $56,781,000,101 $2,515,296,940
1976 $51,169,499,892 $2,742,859,263
1975 $52,438,647,922 $2,442,672,141
1974 $72,436,777,342 $2,910,981,262
1973 $52,544,000,117 $2,434,255,237
1972 $34,733,000,536 $1,872,416,680
1971 $33,293,199,095 $1,653,259,341
1970 $31,584,210,366 $1,788,779,285
1969 $31,256,284,544 $1,926,399,230
1968 $26,436,857,247 $1,573,739,371
1967 $24,256,667,553 $1,340,639,464
1966 $28,630,474,728 $1,238,999,505
1965 $28,344,705,967 $1,061,199,576
1964 $25,605,249,382 $822,639,671
1963 $18,272,123,664 $704,339,719
1962 $18,337,691,145 $679,279,729
1961 $20,132,220,375 $682,359,727
1960 $15,865,474,315 $698,739,721

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/argentina/zambia | CC BY

GDP per capita in Argentina vs Zambia by year

Argentina
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Argentina Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,970 $30,431 $1,187 $4,215
2023 $14,262 $30,221 $1,331 $4,077
2022 $13,962 $29,809 $1,447 $3,841
2021 $10,738 $26,300 $1,127 $3,503
2020 $8,536 $22,393 $952 $3,157
2019 $9,956 $23,517 $1,259 $3,361
2018 $11,753 $24,410 $1,464 $3,442
2017 $14,533 $23,385 $1,483 $3,392
2016 $12,700 $20,106 $1,239 $3,313
2015 $13,680 $19,899 $1,296 $3,337
2014 $12,233 $19,487 $1,707 $3,441
2013 $12,964 $19,929 $1,821 $3,477
2012 $12,950 $19,430 $1,710 $3,324
2011 $12,704 $19,105 $1,625 $3,228
2010 $10,260 $17,848 $1,451 $3,098
2009 $8,150 $16,182 $1,136 $2,872
2008 $8,944 $17,277 $1,376 $2,708
2007 $7,185 $16,455 $1,119 $2,555
2006 $5,869 $14,844 $1,052 $2,378
2005 $5,068 $13,465 $711 $2,213
2004 $4,242 $12,118 $549 $2,068
2003 $3,320 $10,933 $446 $1,942
2002 $2,570 $9,953 $394 $1,837
2001 $7,141 $11,118 $397 $1,785
2000 $7,637 $11,500 $359 $1,709
1999 $7,706 $11,464 $350 $1,654
1998 $8,219 $11,836 $373 $1,601
1997 $8,147 $11,403 $466 $1,631
1996 $7,663 $10,496 $400 $1,585
1995 $7,358 $9,891 $433 $1,501
1994 $7,438 $10,103 $426 $1,464
1993 $6,932 $9,472 $391 $1,607
1992 $6,790 $8,668 $389 $1,505
1991 $5,709 $7,961 $423 $1,534
1990 $4,315 $7,158 $422 $1,522
1989 $2,375 - $526 -
1988 $3,993 - $504 -
1987 $3,477 - $315 -
1986 $3,436 - $238.2 -
1985 $2,906 - $332 -
1984 $3,915 - $413 -
1983 $3,538 - $520 -
1982 $2,915 - $627 -
1981 $2,764 - $670 -
1980 $2,748 - $669 -
1979 $2,512 - $595 -
1978 $3,282 - $514 -
1977 $2,126 - $474 -
1976 $1,947 - $533 -
1975 $2,027 - $490 -
1974 $2,845 - $601 -
1973 $2,098 - $518 -
1972 $1,409 - $410 -
1971 $1,373 - $372 -
1970 $1,323 - $414 -
1969 $1,330 - $459 -
1968 $1,142 - $387 -
1967 $1,064 - $341 -
1966 $1,275 - $325 -
1965 $1,282 - $287.4 -
1964 $1,176 - $230 -
1963 $853 - $203.2 -
1962 $870 - $202.3 -
1961 $971 - $209.7 -
1960 $778 - $221.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/argentina/zambia | CC BY

Argentina's GDP per capita is $13,970, ranking 72/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Argentina ranks 73rd at $30,431, while Zambia ranks 166th at $4,215.

Economic indicators

Argentina Zambia
Gross domestic product
$638B
2024
$25.3B
2024
GDP rank
24/197
2024
116/197
2024
GDP growth
-1.34%
2023-2024
3.82%
2023-2024
GDP per capita
$13,970
2024
$1,187
2024
GDP per capita rank
72/197
2024
169/197
2024
GDP per capita, PPP
$30,431
2024
$4,215
2024
GDP per capita PPP rank
73/197
2024
166/197
2024
Government debt
$540B
2024
$29.1B
2024
Debt-to-GDP ratio
84.7%
2024
114.9%
2024
Government debt per person
$11,826
2024
$1,365
2024
Government debt per person rank
46/185
2024
134/185
2024
Average annual personal income after taxes
$8,743
2026
$1,349
2026
Market capitalization of domestic companies
$52.9B
2022
$7.77B
2024
Number of billionaires
5
2025
n/a
Income share by richest 10%
31.2%
2024
39.1%
2022
Income share by poorest 10%
1.9%
2024
1.5%
2022
Government expenditure, % of GDP
31%
2024
25.5%
2024
Consumer prices inflation
219.9%
2023-2024
15%
2023-2024
Central bank interest rate
29%
2025
14.3%
2025
Unemployment rate
1.69%
2024
5.86%
2023
Population
46048053
22697916

Spending and national debt comparison by year

Argentina
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Argentina Zambia
Government spending Government debt Government spending Government debt
2024 31% 84.7% 25.5% 114.9%
2023 37.6% 154.6% 27.4% 129.1%
2022 37.6% 84.3% 28.2% 99.5%
2021 37.9% 81% 30.5% 111%
2020 42.5% 103.8% 34% 140%
2019 38.1% 89.8% 29.8% 103.3%
2018 38.9% 85.2% 27.7% 81.2%
2017 41.1% 57% 25% 66.6%
2016 41.5% 53.1% 23.9% 61.2%
2015 41.4% 52.6% 27.6% 61.9%
2014 38.9% 44.7% 24.3% 33.9%
2013 37.6% 43.5% 24% 25.9%
2012 36.8% 40.4% 21.9% 24.9%
2011 34.9% 38.9% 19.5% 20.8%
2010 33.4% 43.5% 18.1% 18.9%
2009 34.5% 55.4% 17.8% 20.5%
2008 30.8% 53.8% 19.5% 19.2%
2007 29.6% 62.1% 19.9% 21.9%
2006 26.6% 70.8% 19.7% 25%
2005 24.4% 80.3% 22.5% 75.7%
2004 23% 117.9% 23.3% 129.9%
2003 22% 125.2% 27.3% 159.5%
2002 21.9% 147.2% 27.6% 180.2%
2001 26.4% 48% 28% 210.2%
2000 25.2% 40.8% 21.4% 261%
1999 25.5% 38.9% - -
1998 23.1% 34.1% - -
1997 22.6% 31.7% - -
1996 22.7% 32.6% - -
1995 22.9% 30.7% - -
1994 22.9% 28.4% - -
1993 22% 26.9% - -
1992 12.1% 25% - -
1991 11.4% 35.7% - -
1990 11% 48.5% - -
1989 11% 118.2% - -
1988 12.3% 61.4% - -
1987 13.7% 74.1% - -
1986 13.7% 55.9% - -
1985 14.7% 55.2% - -
1984 13% 54.6% - -
1983 14.2% 64.2% - -
1982 15.9% 52.2% - -
1981 17% 26.5% - -
1980 15.2% 11.4% - -
1979 14.5% 12.4% - -
1978 14.9% 17.5% - -
1977 12.6% 25.1% - -
1976 13% 28.7% - -
1975 12.5% 33.8% - -
1974 14% 13% - -
1973 12.6% 12% - -
1972 11.2% 17.1% - -
1971 11.7% 15.2% - -
1970 12% 13.5% - -
1969 12.3% 9.63% - -
1968 12.8% 9.43% - -
1967 13% 10.9% - -
1966 12.1% 13.4% - -
1965 11.6% 15.9% - -
1964 11.8% 16.8% - -
1963 11.2% 23.4% - -
1962 11.3% 25.1% - -
1961 12.3% 8.69% - -
1960 11.3% 8.39% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-02-20).

GeoRank.org/economy/argentina/zambia | CC BY

In 2024, Argentina's government spending was $198B, accounting for 31% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 84.7% in Argentina and 114.9% in Zambia, ranking 39/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Argentina

Zambia
1x
Year Deficit/surplus, % of GDP
Argentina Zambia
2024 0.46% -3.32%
2023 -5.33% -5.48%
2022 -3.84% -7.82%
2021 -4.33% -8.13%
2020 -8.67% -13.8%
2019 -4.44% -9.41%
2018 -5.44% -8.31%
2017 -6.69% -7.5%
2016 -6.65% -5.69%
2015 -6% -8.88%
2014 -4.25% -5.43%
2013 -3.25% -6.4%
2012 -3.02% -3.16%
2011 -2.75% -1.78%
2010 -1.39% -2.43%
2009 -1.83% -2.06%
2008 0.35% -0.67%
2007 0.76% -1.04%
2006 1.65% 16.9%
2005 3.34% -2.37%
2004 3.97% -2.51%
2003 1.5% -5.31%
2002 -1.91% -4.5%
2001 -5.36% -5.89%
2000 -3.42% 1.16%
1999 -3.71% -
1998 -1.83% -
1997 -1.84% -
1996 -2.81% -
1995 -2.07% -
1994 -1.25% -
1993 -0.02% -
1992 1.54% -
1991 0.96% -
1990 -0.14% -
1989 -0.25% -
1988 -1.75% -
1987 1.89% -
1986 3.3% -
1985 3.6% -
1984 -1.39% -
1983 -2.89% -
1982 -4.68% -
1981 -3.93% -
1980 -1.14% -
1979 -1.5% -
1978 -1.36% -
1977 -0.54% -
1976 -2.39% -
1975 -2.9% -
1974 -1.08% -
1973 -1.48% -
1972 -0.12% -
1971 0.32% -
1970 1.01% -
1969 0.54% -
1968 0.25% -
1967 0.66% -
1966 -0.98% -
1965 -0.89% -
1964 -1.34% -
1963 -0.65% -
1962 -0.47% -
1961 1.73% -
1960 -1.98% -
1959 -4.82% -
1958 -6.61% -
1957 -2.72% -
1956 -3.77% -
1955 -3.75% -
1954 -3.21% -
1953 -3.1% -
1952 -3.01% -
1951 -3.52% -
1950 -3.38% -
1949 -3.98% -
1948 -2.73% -
1947 -1.6% -
1946 -4.12% -
1945 -5.25% -
1944 -4.61% -
1943 -3.86% -
1942 -2.9% -
1941 -2.85% -
1940 -2.31% -
1939 -3.09% -
1938 -2.09% -
1937 -1.62% -
1936 -1.44% -
1935 -1.16% -
1934 -1.56% -
1933 -1.27% -
1932 -1.19% -
1931 -2.98% -
1930 -3.94% -
1929 -1.95% -
1928 -1.52% -
1927 -3.3% -
1926 -1% -
1925 -0.46% -
1924 -0.68% -
1923 -0.93% -
1922 -1.86% -
1921 -0.99% -
1920 0.2% -
1919 -0.3% -
1918 -1.14% -
1917 -2.18% -
1916 -2.13% -
1915 -2.64% -
1914 -3.03% -
1913 -0.61% -
1912 -0.78% -
1911 -2.19% -
1910 -2.24% -
1909 -2.57% -
1908 0.28% -
1907 -0.2% -
1906 -0.32% -
1905 -3.52% -
1904 0.15% -
1903 -0.25% -
1902 -2.2% -
1901 -0.54% -
1900 -0.42% -
1899 -0.4% -
1898 -9.31% -
1897 -1.46% -
1896 -4.19% -
1895 -1.59% -
1894 -1.06% -
1893 0.06% -
1892 -1.33% -
1891 -4.48% -
1890 -1.82% -
1889 -2.88% -
1888 -0.69% -
1887 0.35% -
1886 -2.39% -
1885 -2.67% -
1884 -4.07% -
1883 -4.19% -
1882 -5.42% -
1881 -2.31% -
1880 -2.15% -
1879 -1.09% -
1878 -1.08% -
1877 -1.68% -
1876 -4.15% -
1875 -3.08% -
1874 -2.59% -
1873 -1.39% -
1872 -1.18% -
1871 -5.54% -
1870 -2.74% -
1869 -1.61% -
1868 -1.8% -
1867 -1.08% -
1866 -2.09% -
1865 -0.79% -
1864 0.51% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1864–1992, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1993–2024, retrieved 2026-02-20).

GeoRank.org/economy/argentina/zambia | CC BY

In 2024, Argentina's government surplus, the difference between spending and revenue, was $2.92B, equivalent to 0.46% of GDP. This compares to Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Argentina recorded a fiscal deficit in 18 of those years, while Zambia ran a deficit in 23 years. On average, Argentina posted an annual deficit equal to 2.66% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Argentina

Zambia
1x
Year Consumer prices inflation
Argentina Zambia
2024 219.9% 15%
2023 133.5% 10.9%
2022 72.4% 11%
2021 48.4% 22%
2020 42% 15.7%
2019 53.5% 9.2%
2018 34.3% 7.5%
2017 25.7% 6.6%
2016 - 17.9%
2015 - 10.1%
2014 - 7.8%
2013 10.6% 7%
2012 10% 6.6%
2011 9.8% 8.7%
2010 10.5% 8.5%
2009 6.3% 13.4%
2008 8.6% 12.4%
2007 8.8% 10.7%
2006 10.9% 9%
2005 9.6% 18.3%
2004 4.4% 18%
2003 13.4% 21.4%
2002 25.9% 22.2%
2001 -1.1% 21.4%
2000 -0.9% 24.1%
1999 -1.2% 23.9%
1998 0.9% 22.7%
1997 - 21.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/argentina/zambia | CC BY

Over the past 27 years, Argentina has recorded an average annual inflation rate of 31.5%, compared with 14.1% in Zambia. In 2024, inflation was 219.9% in Argentina and 15% in Zambia.

Top exports between countries

Argentina
Export category Export value
Animal & marine products $1.51M
Miscellaneous $130K
Zambia
Export category Export value
Machinery & equipment $690K
Precious metals & jewellery $4K
Textiles & consumer goods $4K

Balance of trade

Argentina Zambia
Current account balance
$5.7B
2024
-$487M
2024
Current account balance ranking
32/190
2024
106/190
2024
Current account balance, % of GDP
+0.89%
2024
-1.93%
2024
Goods imports
$57.4B
2024
$10.1B
2024
Goods exports
$79.8B
2024
$11.4B
2024
Service imports
$22.9B
2024
$1.94B
2024
Service exports
$17.2B
2024
$1.38B
2024
Imports of goods and services, % of GDP
12.7%
2024
27.6%
2024
Exports of goods and services, % of GDP
15.2%
2024
35%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Argentina Zambia
Economic freedom 57.4 51.9
Economic freedom ranking 117/197 152/197
Property rights 41.2 43.9
Government integrity 41.2 39.3
Judicial effectiveness 58.2 45
Tax burden 67.8 74.3
Government spending 62.3 78.1
Fiscal health 72.2 30.9
Business freedom 56.8 53.4
Labor freedom 53.5 48.8
Monetary freedom 28.9 66.6
Trade freedom 67.4 62.8
Investment freedom 70 40
Financial freedom 70 40

Economic freedom comparison by year

Argentina
Zambia
1x
Year Economic freedom index
Argentina Zambia
2026 57.4 51.9
2025 54.2 50.9
2024 49.9 48.4
2023 51 47.8
2022 50.1 48.7
2021 52.7 50.4
2020 53.1 53.5
2019 52.2 53.6
2018 52.3 54.3
2017 50.4 55.8
2016 43.8 58.8
2015 44.1 58.7
2014 44.6 60.4
2013 46.7 58.7
2012 48 58.3
2011 51.7 59.7
2010 51.2 58
2009 52.3 56.6
2008 54.2 56.2
2007 54 56.2
2006 53.4 56.8
2005 51.7 55
2004 53.9 54.9
2003 56.3 55.3
2002 65.7 59.6
2001 68.6 59.5
2000 70 62.8
1999 70.6 64.2
1998 70.9 62.7
1997 73.3 62.1
1996 74.7 59.6
1995 68 55.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/argentina/zambia | CC BY

The Economic Freedom Index for Argentina is 57.4, ranking 117/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Argentina Zambia
Services, % of GDP
53.7%
2024
57.2%
2024
Industry, % of GDP
24%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
5.81%
2024
2.83%
2024
GNI, Atlas method
$618B
2024
$25.9B
2024
GNI per capita, PPP
$29,800
2024
$3,850
2024
Total reserves including gold
$29.6B
2024
$4.09B
2024
Total reserves ranking
56/177
2024
106/177
2024
Net foreign direct investment
-$8.89B
2024
-$1.32B
2024
Net inflows of foreign direct investment
$11.6B
2024
$2.36B
2024
Net outflows of foreign direct investment
$2.76B
2024
$311M
2024
Servicing debt to the IMF, % of GNI
6.32%
2024
16.9%
2024
Poverty at national poverty lines
38.1%
2024
60%
2022
Gross capital formation, % of GDP
15.8%
2024
23.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/argentina/zambia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1864–1992, retrieved 2026-02-20)
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.